TRYING TO KNOW MORE ABOUT TRADING BECAUSE THAT IS WHAT I PICKED INTEREST ON.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Jellachrist on October 29, 2019, 06:57:20 PM

will trading of top 10 coins be easy for a beginner and will there be profit?

Not necessarily. Huge losses are possible too. Trading is risky and its not a get-rich-quick method. But the top 10 are generally safer.

Quote

And will love to know if daily trading is better than long term trading?

Both that their own pros and cons. Neither one is better than the other. Daily trading needs you to keep tabs on the market all day and night long probably with the help of bots or with a unhealthy sleep pattern if you try to do it yourself, you would have to learn how to study indicators well. Long terms gains would be a bit easier to keep because you observe the market for a long period and buy sell at profit.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: Jellachrist on October 29, 2019, 06:46:04 PM

Thanks for your advice but the high risk everyone keep emphasis on got me scare I keep thinking if any one has made it to success in this trading stuff?

Trading will not become a talk of the town if no one got success on it.

Kind of weird, how did you end up on that thought after doing research.

Quote from: Jellachrist on October 29, 2019, 06:46:04 PM

Even when going through some research I always got warned about me losing my funds so learning hard way is what am trying to avoid thanks once again.

Because losing funds is always possible. But you know, losing is really part of the trading experience. There will be times that you will lose no matter how you avoid it. The goal is, you should able to minimize your losses while on progress. Even professional and big-time traders still lose today. That's the challenge you need to work on.

There's no easy road to success. If you think you aren't ready yet, then refrain from doing trades for now. You should avoid being scared at any cost since it will affect your future strategy.

Jellachrist

jr. member

Activity: 37

Merit: 1

Quote from: TheUltraElite on October 29, 2019, 04:20:34 AM

Quote from: Jellachrist on October 28, 2019, 04:09:49 PM

I will love to know the major risk involved in trading.

Several are there. The risk of crypto being banned and prohibited in your country is the first one. You wont be able to handle it anymore if it happens but it is rare and not scientific. Then you have market manipulation which you have become immune to and sometimes volatility. Be wise to trade with coins that have a proper userbase and steer clear of pump and dump shitcoins. A good measure is to focus on the top 10 coins of coinmarketcap except the Forked coins and XRP.

Quote

My emphasis are on trading simply because that is what I picked interest on in the crypto industry and I will like to know it to my satisfaction to be on a safer side.

I will break your rosy bubble right away. Trading is not an easy or safe task. It is full of risk.

Quote

I will appreciate it if you can add other qualities you think will be useful for me to be a good trader here in the crypto world.

If you dont have any background on trading prior to this, like stock market, commodities you would find it difficult to start. But being patient and not being easily manipulated by press news and so-called "expert advice" would keep you safe to some extent. Learn to study the charts and read indicators.

Wow! This is amazing and so informative but will trading of top 10 coins be easy for a beginner and will there be profit? And will love to know if daily trading is better than long term trading? As of that of my country banned crypto I know it will not happen, but I will ensure I keep an eye on coins with proper use cases and avoid pump and dump coins and equally follow the idea of reading charts.

Jellachrist

jr. member

Activity: 37

Merit: 1

Quote from: AverageGlabella on October 28, 2019, 05:30:28 PM

Just know that trading in such a unstable currency can either leave you broke or make you rich but to be able to read the market and reducing luck as much as possible it would require months of study and years of putting that study into practice. You will lose money and you will gain money. Its only recommended to trade if you have enough to invest and you are only investing left over cash rather than cash that you need.

I would 100% recommend you to practice with "play" money before investing into the real Bitcoin market.

Thanks for your advice but the high risk everyone keep emphasis on got me scare I keep thinking if any one has made it to success in this trading stuff? Even when going through some research I always got warned about me losing my funds so learning hard way is what am trying to avoid thanks once again.

error08

hero member

Activity: 1036

Merit: 514

For the first thing, just learn about the coins you might be interested to trade, such as bitcoin, usdt, bch, eth, ad so on.
I have been following some people in this forum, twitter and tradingview site who give their thoughts about the market situation and provide TA including the charts, you may want to pick whoever you believe have the best prediction. For example, just check this one; https://bitcointalksearch.org/topic/i-quit-my-job-to-do-full-time-crypto-trading-made-12-btc-profit-last-month-5146383 his predictions are pretty good.
He said;

I'm often asked about what to start with in trading
Start with math! 📊

Right position size is a significant contribution to your success. Explore:
https://optionclue.com/en/best-articles/positionsize/

The Cryptovator

legendary

Activity: 2394

Merit: 2223

Signature space for rent

Every trader have their own strategy and that's how they are trading. From far its looking very easy, but when you will enter on it then you will realize the necessary of lesson. Don't be overexcited when someone share their success story with you. Because you might not lucky same some like others.

First thing is you have to learn everything regarding trading and you will learn it during trading. So play with small amount at the beginning just for learning popups, don't expect quick rich method. If you are not trading then you can't learn. So trade for learn. Second thing is you patience, I don't need to describe it briefly and hope you get my point. The final thing is, don't be greedy. Learn to be happy with small profits. Luck will not favour you always. Happy trading journey.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

I'd say good choice. Picking mining instead of trading would instead back fire on you imho. Now qualities. Well, a researcher is one. Gotta analyze, research and study a lot of things as a beginner. Plus theres also internal character such as patience since trading requires a lot of mentally stable facilities with all the ups and downs. Most importantly though, you gotta have funds. Not just any funds, but funds that you can afford to lose. Trading isnt all profit. Be prepared to win some, be prepared to lose some.

Alluro

member

Activity: 742

Merit: 19

First of all, you have to learn more about technical analysis and fundamental analysis to start trading. The next thing is you have to invest small amount of money as a beginner.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Jellachrist on October 28, 2019, 04:09:49 PM

I will love to know the major risk involved in trading.

Several are there. The risk of crypto being banned and prohibited in your country is the first one. You wont be able to handle it anymore if it happens but it is rare and not scientific. Then you have market manipulation which you have become immune to and sometimes volatility. Be wise to trade with coins that have a proper userbase and steer clear of pump and dump shitcoins. A good measure is to focus on the top 10 coins of coinmarketcap except the Forked coins and XRP.

Quote

My emphasis are on trading simply because that is what I picked interest on in the crypto industry and I will like to know it to my satisfaction to be on a safer side.

I will break your rosy bubble right away. Trading is not an easy or safe task. It is full of risk.

Quote

I will appreciate it if you can add other qualities you think will be useful for me to be a good trader here in the crypto world.

If you dont have any background on trading prior to this, like stock market, commodities you would find it difficult to start. But being patient and not being easily manipulated by press news and so-called "expert advice" would keep you safe to some extent. Learn to study the charts and read indicators.

JeromeTash

legendary

Activity: 2338

Merit: 1261

Heisenberg

There are so many things you will need to learn and there are lots of resources you can also use to learn the different things. One of the best resources is YouTube. It can help you learn the basics of crypto trading through tutorials.

Crypto market is very volatile unlike forex and stock markets and requires lots of discipline and risk management. Once you learn a few basics, get some little money you can afford to lose then you practice live trading while trying to attain a certain target. You will make mistakes along the way but those mistakes will help you perfect your trading strategy.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

I think some of the responses you got from your thread here is already enough to somehow show you some insights on what you must expect in trading, including the risks.

You just now need to prepare yourself for doing the actual trades and build experience. If you are still confused about what to do, there are lots of resources out there which you can find via using your favorite search engine that can help you learn the basics. I think you will be interested to read some trading stuffs since as you said, you now have an interest in that. No need to learn some advanced knowledge as your experience will teach you it while in progress.

Immakillya

sr. member

Activity: 560

Merit: 269

There's no safe side on trading cryptocurrencies. Trading cryptocurrency is a high risk. But the higher the risk the higher you get. I trade cryptocurrency too. But I stopped for a while because of bearish market and I can't afford to lose my money. But for the mean time, I participating IEOs to collect tokens where I think I could get decent profit on them. The good thing in participating IEOs, it's less work. Just find a good time to buy and sell them when it's ready for trade.

AverageGlabella

legendary

Activity: 1232

Merit: 1080

Just know that trading in such a unstable currency can either leave you broke or make you rich but to be able to read the market and reducing luck as much as possible it would require months of study and years of putting that study into practice. You will lose money and you will gain money. Its only recommended to trade if you have enough to invest and you are only investing left over cash rather than cash that you need.

I would 100% recommend you to practice with "play" money before investing into the real Bitcoin market.

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

Check these courses below to learn more about crypto trading.

- Crypto trading Guide Course by Eterbase
- COMPLETE-GUIDE-TO-CRYPTOCURRENCY-ANALYSIS-4.pdf
- Trading collection including tools and trading books.

Just don't use the eterbase as your exchange just learns from their ebook.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Major risk while doing crypto currencies are price changes its not something like stocks where we may not see thse kind of price changes everyday but cryptos are highly instable and unpredictable,so you need to do trading on your own risk,TA might help you to some extend but there is no way for accurate predictions.

If you want to be safer side then go for HODLing know an long term trading.

Learning TA can make you as more successful trader in short term but no perfect way to avoid losses in cryptos is the real fact.

There is a dedicated section for trading activities and discussing on bitcointalk - Trading Discussion

Jellachrist

jr. member

Activity: 37

Merit: 1

I have been in this forum for a while now I must say I have learnt a lot due to the fact that no man is perfect and to avoid touching stories I will love to know the major risk involved in trading. My emphasis are on trading simply because that is what I picked interest on in the crypto industry and I will like to know it to my satisfaction to be on a safer side. I will appreciate it if you can add other qualities you think will be useful for me to be a good trader here in the crypto world.

Topic: TRYING TO KNOW MORE ABOUT TRADING BECAUSE THAT IS WHAT I PICKED INTEREST ON. (Read 212 times)